The PRS REIT plc is a closed-ended real estate investment trust established to invest in the Private Rented Sector and to provide shareholders with an attractive level of income together with the potential for capital and income growth. The Company is investing £0.9bn in a portfolio of high quality homes for private rental across the regions, having raised a total of £500m (gross) through its Initial Public Offering, on 31 May 2017, and a subsequent placing in February 2018. Both fundraisings were supported by the UK Government's Homes England with direct investments.
Analysts Set New Price Targets
Separately, Barclays restated an "equal weight" rating and set a GBX 96 ($1.16) target price on shares of PRS REIT in a report on Tuesday, July 26th.
PRS REIT Price Performance
Shares of LON:PRSR opened at GBX 107.60 ($1.30) on Friday. PRS REIT has a fifty-two week low of GBX 98 ($1.18) and a fifty-two week high of GBX 114 ($1.38). The stock has a market capitalization of £590.99 million and a price-to-earnings ratio of 897.54. The company has a debt-to-equity ratio of 56.22, a current ratio of 0.92 and a quick ratio of 0.92. The business has a 50-day moving average of GBX 107.67 and a 200-day moving average of GBX 106.80.
PRS REIT Dividend Announcement
The business also recently declared a dividend, which will be paid on Friday, August 26th. Shareholders of record on Thursday, August 4th will be paid a GBX 1 ($0.01) dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a yield of 0.92%. PRS REIT's dividend payout ratio is 33.33%.